It’s hard to believe that September is almost gone. School has started, football season is in full swing, and the days are getting shorter. This month’s links talk a little bit about money and a little bit about growing older.
As we get older, we face more questions about how to manage our day-to-day lives. We don’t want to be a burden on family and friends, but we also don’t want to give up the lives and routines we’re used to. A few years ago, I heard about the Beacon Hill Village. It and other groups like it support independent seniors as they get older. Using a membership fee, the village can provide a small staff to help them manage and stay in their homes longer. It’s a great concept that I think has a lot of potential in different communities.
When we say we’re successful, what do we mean? Do we speak solely about our professional accomplishments or do we include our personal lives, too? In today’s world, it’s not unusual to hear success connected to things like public popularity or visible wealth. But what if success is really about something else? What if, in the words of Benjamin Franklin, we really want people to say at our death, “You lived usefully.”
We’ve probably compared our portfolio to the S&P 500 at least once. After all, the S&P is an index of U.S. stocks with a pretty steady history. But there’s a problem with this comparison. It’s not an apples-to-apples comparison. Other things like risk, liquidity, and correlation come into play. So while comparing might be fun — “Wow, I’m doing better than the S&P 500” — it’s not always meaningful.
We want our kids to succeed in life, but what should we be doing to help them get headed on the right path? I liked this article because it laid out some specific things we should be teaching kids to help them make smart money decisions. The suggestions probably won’t surprise you, but they’re a good reminder of the things we need to be teaching our kids when it comes to money.
It happens to the best of us — we get a little bit older every day. So I loved reading about the ways we can stay sharp and connected as we age. It’s simple stuff that all of us can do. Things like testing our ability to get places without GPS or protecting our hearing will have a bigger impact than you think on our ability to age well.